Wetouch Technology (NASDAQ:WETH) Stock Price Down 5.2% – What’s Next?

Wetouch Technology Inc. (NASDAQ:WETH) fell 5.2% during trading on Wednesday . The stock traded as low as $1.47 and last traded at $1.47. 49,978 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 44,292 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Wetouch Technology to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Wetouch Technology in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Wetouch Technology has a consensus rating of “Hold”.

Wetouch Technology Stock Performance

The firm has a market cap of $17.54 million, a P/E ratio of 2.37 and a beta of 0.33. The firm’s fifty day moving average is $1.68 and its 200 day moving average is $1.56.

Wetouch Technology (NASDAQ:WETH) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.21 earnings per share (EPS) for the quarter. Wetouch Technology had a net margin of 17.10% and a return on equity of 5.73%. The firm had revenue of $12.18 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Primoris Wealth Advisors LLC bought a new position in Wetouch Technology during the 4th quarter worth $29,000. Citadel Advisors LLC acquired a new position in shares of Wetouch Technology in the third quarter valued at about $86,000. Finally, Argentarii LLC raised its stake in Wetouch Technology by 15.9% in the 3rd quarter. Argentarii LLC now owns 109,318 shares of the company’s stock worth $137,000 after purchasing an additional 15,000 shares in the last quarter.

Wetouch Technology Company Profile

Wetouch Technology Inc engages in the research, development, manufacture, sale, and servicing of medium to large sized projected capacitive touchscreens in the Peoples Republic of China, Taiwan, South Korea, and internationally. The company offers various touch panels, including glass-glass, which are primarily used in GPS/car entertainment panels in mid-size and luxury cars, industrial human-machine interface (HMI), financial and banking terminals, point of sale, and lottery machines; glass-film-film products that are used in GPS and entertainment panels, industrial HMI, financial and banking terminals, lottery, and gaming industry; plastic-glass for use in GPS/entertainment panels, motor vehicle GPS, smart home products, robots, and charging stations; and glass-films used in industrial HMI.